Insider Selling: Allegion plc (NYSE:ALLE) SVP Sells 2,032 Shares of Stock

Allegion plc (NYSE:ALLE) SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction of $257,535.68. Following the transaction, the senior vice president now owns 10,273 shares in the company, valued at approximately $1,302,000.02. The trade was a 16.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Allegion Stock Down 1.6 %

Shares of NYSE ALLE traded down $2.05 on Wednesday, hitting $123.91. The company had a trading volume of 1,048,315 shares, compared to its average volume of 714,008. The firm has a market capitalization of $10.69 billion, a P/E ratio of 18.17, a PEG ratio of 3.97 and a beta of 1.11. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10. The business has a 50 day moving average of $129.82 and a two-hundred day moving average of $136.96.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. The firm had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. As a group, equities research analysts forecast that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.51 per share. This is an increase from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 1.65%. Allegion’s payout ratio is 29.91%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ALLE. Barclays dropped their price target on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company cut their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley boosted their price target on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Robert W. Baird decreased their target price on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $138.33.

Hedge Funds Weigh In On Allegion

A number of institutional investors have recently added to or reduced their stakes in the company. Fiduciary Management Inc. WI purchased a new position in Allegion in the fourth quarter valued at about $116,484,000. Norges Bank acquired a new position in shares of Allegion in the 4th quarter valued at approximately $108,058,000. Lord Abbett & CO. LLC boosted its stake in shares of Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after buying an additional 823,874 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Allegion during the 4th quarter valued at approximately $65,175,000. Finally, Boston Partners grew its position in shares of Allegion by 11.6% during the fourth quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock worth $616,503,000 after buying an additional 488,390 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.